Marketing

WHAT IS MARKETING?

“Marketing creates value for customers in order to capture value from customers in return”

In first place, to create value for customers and to build customer relationships, it is necessary start Understanding the Marketplace and Customer needs. In this step we are talking about customer needs, wants, and demands. So, to satisfy the requirements of the customer, It is important to know the marketing offerings, because there is no just one option, actually it could be three, products, services, and experiences. However, this idea is complemented with the right level of expectations to avoid to disappoint the customer, and to satisfy all of those needs and wants of the customer, it is needed exchange relationships. How to do this kind of relationships? Through a market which is the set of actual and potential buyers of a product or service. Summarizing, this step is all about research customers and the marketplace, besides with manage marketing information and customer data.

In second place, we find Designing a Customer-Driven Marketing Strategy. This step is very interesting, because it enclose key concepts to decide which customers serve and how bring them value. In the base of this step, we can find two main questions that could help us to understand what is it all about: what is the target market? And what is the value proposition? To answer the first question, the company has to do market segmentation to decide which segments it will go after. To answer the second question, the company has to decide, how it will differentiate and position itself in the marketplace, it thinking that value proposition is the set of benefits or values it promises to deliver to consumers to satisfy their needs.

Marketing management orientations, it is the way to design strategies to build profitable relationships with target consumers. There are five alternative concepts: the production, product, selling, marketing, and societal marketing concepts. However, the company has to look carefully which is the best, because between these are important differences.

Furthermore, Construct an integrated marketing program that delivers superior value is a step that is giving a structure for those which were before. This step is all about, customer relationships management and the key to building lasting customer relationships is to create superior customer value and satisfaction. Satisfied customers are more likely to be loyal customers and give the company a larger share of their business, so preparing an integrated marketing plan and program is all about satisfy customers, it means, the extent to which a product's perceived performance matches a buyer's expectations. Synthesizing, the most important facts around this step are the following: Product and service design: build strong brands, Pricing: create real value, Distribution:

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